In a recent development, the customer claims portal of bankrupt cryptocurrency exchange FTX went offline shortly after its launch. The portal was live for approximately an hour before becoming unavailable for unknown reasons.
On July 11, several social media users reported the launch of the FTX claims portal, which aimed to provide customers of the failed crypto exchange, including FTX, FTX.US, Blockfolio, FTX EU, FTX Japan, and Liquid, with access to their account information. It also allowed them to submit claims for consideration in the firm’s ongoing restructuring proceedings. The deadline for claim submissions was set for September 29, as stated on FTX’s Kroll page.
Before going offline, the claims portal informed users that they would be able to view their account balances as of November 11, 2022, which marked the day when FTX filed for bankruptcy in the United States. However, affected users still have the option to file a proof of claim through Kroll’s online customer form or via U.S. mail.
The bankruptcy case of FTX is currently being handled in the District of Delaware. In June, the debtors involved in the case announced their plan to launch an online portal specifically for customer claims. Meanwhile, former FTX CEO Sam Bankman-Fried is expected to face trial in October for allegations of fraud.
The temporary unavailability of the claims portal adds another layer of complexity to FTX’s ongoing bankruptcy proceedings. Customers seeking to submit claims will need to monitor the situation closely and explore alternative filing options provided by Kroll.
Overall, the incident raises questions about the trustworthiness of cryptocurrency exchanges following the collapse of FTX. Users may become more cautious when dealing with such platforms, considering the potential risks involved.